Bank of Montreal: Fiscal Q3 Earnings Snapshot

TORONTO (AP) _ Bank Of Montreal (BMO) on Tuesday reported fiscal third-quarter profit of $1.06 billion.

The Toronto-based bank said it had earnings of $1.52 per share. Earnings, adjusted for non-recurring costs and costs related to mergers and acquisitions, were $2.40 per share.

The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $2.38 per share.

The bank posted revenue of $6.95 billion in the period. Its revenue net of interest expense was $4.74 billion, also surpassing Street forecasts.

Bank of Montreal shares have decreased roughly 9% since the beginning of the year. The stock has dropped almost 3% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BMO at https://www.zacks.com/ap/BMO